Jho Low Gives Up $1 Billion in Assets to Settle 1MDB Suits (3)

The U.S. Justice Department has struck a deal with fugitive financier Jho Low in which it will recoup almost $1 billion of money looted from the Malaysian investment fund 1MDB, in what would be the biggest recovery from an American anti-corruption crackdown.

Jho Low attends a conference in San Francisco in 2014.

The 1MDB global corruption scandal toppled the previous Malaysian government of Najib Razak, ensnared a Wall Street powerhouse and set off investigations across the globe. The proposed settlement was filed Wednesday in a California court.

It would be the most significant win for the Justice Department’s Kleptocracy Asset Recovery Initiative since it was set up almost a ...